Kuwait Petroleum on Strait Crisis
Sheikh Nawaf Saud Al-Sabah, CEO of Kuwait Petroleum Corporation, stated that the closure of the Strait of Hormuz is the most severe and significant crisis facing Kuwait's oil sector since Iraq's invasion in 1990. He explained that ongoing closure of the strait disrupts navigation and threatens the restoration of previous production levels, emphasizing the need to ensure the free flow of hydrocarbons through the strait to stabilize the oil market and avoid a new energy crisis. Iran has almost completely closed the strait since the end of February in response to American and Israeli attacks, impacting Gulf countries' oil exports via the strait. Kuwaiti facilities have also been targeted by Iranian attacks in retaliation for the strikes they endured.
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